Solium
| File:Solium.svg | |
| Company type | Private |
|---|---|
| TSX: SUM - Former Symbol | |
| Industry | Financial services, Software |
| Founded | 1999 |
| Fate | Acquired by Morgan Stanley |
| Headquarters | , |
Area served | Worldwide |
Key people | Marcos Lopez (CEO) |
| Products | Shareworks
|
| Revenue | Increase US$108.3 million (2018) |
Number of employees | 781 |
| Website | www |
Solium Capital, now known as Shareworks by Morgan Stanley, is a subscription-software (SaaS) company headquartered in Calgary, Alberta, Canada.[1] It is best known for Shareworks, software used by public and private companies to manage their employee stock options and/or cap tables. It also does 409A valuations (see Internal Revenue Code section 409A). The company has ~3,000 clients[2] and has offices in Canada, the United States, the UK, Europe and Australia.[3][4] Morgan Stanley announced a definitive agreement to acquire Solium in February 2019[5] for approximately CAD$1.1 billion (US$900 million), a 40% premium over the recent trading price.[6]
History
[edit | edit source]Solium was founded 1999 by two Calgary-based financial advisers, John Kenny and Mark Van Hees.[7] In 2001, the company made its initial public offering (IPO)[8] on the TSX Venture Exchange. Early clients included TransAlta, Encana Corp., and Shell Canada Ltd.[2] In 2004, Solium became profitable.
In 2010, Solium acquired Computershare's Transcentive business.[9] In this transaction, Solium acquired the Express Options software platform, which UBS white-labeled.
In 2011, Solium opened an office in London, UK.[2]
In 2012, Solium acquired the CapMx business from Silicon Valley Bank.[10]
In 2013, Barclays Corporate and Employer Solutions announced a partnership with Solium to white-label Shareworks.[11]
In 2014, Solium opened an office in Sydney, Australia.[2] Later that year, BHP Billiton became a client.[12]
In 2016, Morgan Stanley announced that it would use Shareworks to serve its U.S. clients.[1][13][14]
In 2017, UBS began to white-label Shareworks to run its Equity Plan Advisory Services.[1]
In 2017, Solium acquired Capshare and let it continue to run as an independent entity.[15][16][17]
in 2018, Solium acquired Advanced-HR, a U.S. company that provides compensation data and compensation planning software for private and venture backed companies.[18]
In 2019, Solium was acquired by Morgan Stanley at a price of CAD$19.15 per Common Share. The total transaction was valued at approximately CAD$1.1 billion (US$900 million).[19][20]
References
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- ^ The Canadian Press, "Morgan Stanley buying Calgary-based Solium Capital for $1.1 billion" (Can$), Calgary Herald, February 11, 2019. Retrieved 2019-02-11.
- ^ Hoffman, Liz, "Morgan Stanley, in Biggest Deal Since Crisis, Courts Future Millionaires" (subscription required), Wall Street Journal, February 11, 2019. Retrieved 2019-02-11.
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